I'd like Yammer to...

I would like a feed of just the groups I've joined and people I follow.

I believe the "Following" tab used to do this, but now it's just conversations I follow. I have no interest in clicking group to group, I want to get all my updates in a single feed with no extra noise.

We have read your feedback on the request for feed of groups you have joined and people you follow.
[EDIT] Clarification on Following Feed related to earlier comment: The following feed does not show conversations from your groups.
We had made improvements to the following feed in Yammer in February earlier this year to bring more focus to people and topics on Yammer. The improvements were focused on helping surface content from people, topics and files you follow. To help surface that content we no longer show conversations from your groups in the following feed. Groups in the left nav will continue to show indicators for new content you have not seen. For more details refer to the Message Center post : 26543

Agree! If you join a group, you should of course see the posts from that group in your feed. This change makes most of our users see just the All Company feed on our intranet start page, and that’s not where the real value of Yammer is. Please shift back as soon as possible.

The challenge with "enterprise social networking" vehicles like Yammer is that they only work if you have a crowd, and they only provide value if you see input from that entire crowd.

Changing that mechanism to only show information from the individuals you choose to follow implies there is no more crowd i.e. you are missing out on the information the crowd as a whole - in the domain or specific area you are interested in - are truly talking about.